Rao Journal: Elliot Wave Analysis - Page 3
Page 3 of 504 FirstFirst 1234 LastLast
Results 21 to 30 of 39

Thread: Rao Journal: Elliot Wave Analysis

  1. #21
    I managed to grab wave on EJ. Pay your attention to the fact that declared news was negative for US dollar, but dollar momentally strengthened. That is the weak side of fundamental analysis - the price goes where it must go, but not the way the news stated.

  2. #22
    I was out of town at the week-end so I had no chance to make ahome-work analysis. The one thing I see is that Eur-pairs have a strong bearish momentum, and I want to determine if and where will it finish.
    Incidentally, EJ had broken 132.76 and went even lower, I will show pictures in several hours.

  3. #23
    I think that in a few minutes we'll see a bullish urge on eurusd pair.

  4. #24
    Halo! I am here again with a pattern on EJ (I think it's my favourite instrument on Forex).
    I believe that in the future we'll see how the 5th bearish wave is forming. This scenario is actual til the price is lower compared to 134.5

  5. #25
    My last pattern on EJ hasn't been proved, the price went until 134.6 and then it started to collapse. I am not convinced, but I am thinking about when I can think about this as a false breakout?
    We're ahead of US news, I think it'll influence on EJ as well. I am waiting for a bearish wave. I am not prepared with a display, but I'll post it ASAP

  6. #26
    Luckily, this time I was perfect. US news created a bearish wave on EJ (although logically we should have been waiting to get a bullsih urge following it).

    The 5th bearish wave is completing at the moment on EJ. After that on 15 minute chart you are able to notice a formation. At this time it's quite hard to predict precisely if we will see a correction into the 3rd wave then bearish move will continue (in that way I will be more assured to qualify previous breakout until .60 as a false one). On the opposing side, this 3-wave formation may be a correction to a bullish impulse, this type of situation will be proved if the price breaks 134.45 degree.
    Looking at Stochastic pattern on H1, H4 timeframes I think the bearish version is more likely.

  7. #27
    My account endured significantly this morning like I lost the direction of this market. Only after I did what I should have achieved much earlier

    So, have a look at EURUSD 4H chart. There's a formed 3-wave pattern, the price didn't move higher than preceding max level, therefore both bullish and bearish views on the mid-term direction is possible.
    I attached two charts explaining my wave count on lower timeframes. It is only an argument to demone my perspective.

    If you have a look at bullish waves, starting from 17. Aug, it is possible to see also 3 waves, the latter is completing right at the moment. It is hard to tell exactly if the price will soon develop bullish move. As for me, I am looking for some pips selling EU. I am certain that we will notice a bearish wave as correction to wave 3 is very likely to start.






  8. #28
    A few hours prior to the market closed we saw the beginning of bearish move on EU. I tend to think that the price will achieve at least 1.4265 level, that's minimal Fibo retracement level to get a tide 3 (talking about charts, please, have a look at my prior post) on hourly TF.

    If EU resumes bullish move sooner than it reaches this amount, it's going indie that wave [v] of 3 is expanded. However, this scenario is unlikely to me, I think more in upcoming bearish wave 5 to 4H chart. EU hasn't touched yet the minute Fibo retrace level on Daily chart (approx. 1.37). If it breaks to the upside, it is going to show us the 5th bullish tide on 1D EU isn't finished.

  9. #29
    Daily Chart: Cable is in a bullish mode as the end of Jan'09. In case my wave count is right, we are ahead bullish wave [v] of (5) of 3, that will finish a strong bullish urge beginning at 11. March.

    4H1H Chart: waves [I] and [iii] have practically identical pip-length, [iii] is a bit longer. Bearish move out of 5. Aug has 3-wave pattern, that proves my situation of forming the [v] wave.

    I believe that the bullish 5-wave pattern (17-21. Aug, the 5th wave of that will be the shortest one) may be the first urge of wave [v].

    After assessing GU, I am not so confident about EurUsd. It's likely that the tools will choose different directions in the subsequent 2 weeks, but I do not think that it's likely. The bullish pattern on GU is obvious for me, I believe I'll try to trade on it next week. Things to do with EU is an open matter for me, I'm going to see 1.441 and 1.445 levels.



  10. #30
    I really don't see a clear pattern on EJ. As I've mentioned before, the price with this pair did not manage to reach previous maximum degree, but the past bullish urge has 5-wave formation.
    I can write much more, but I think that in this occasion the charts will tell more and better.



Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
This website uses cookies
We use cookies to store session information to facilitate remembering your login information, to allow you to save website preferences, to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners more information